A Strategy for Prosperity – to New York State, meeting the October 3 deadline. The progress report details the council’s achievements in implementing its five year strategic plan and reflects Western New York’s progress on efforts to ensure sustainable and long-term growth in the five county region and to leverage the region’s advantages in key industry sectors, including advanced manufacturing, agriculture, bi-national logistics, energy, health & life sciences, higher education, professional services and tourism. In furtherance of these goals, strategies and initiatives, the report recommends 32 priority projects to advance the region’s growth objectives. These projects, from Allegany, Cattaraugus, Chautauqua, Erie and Niagara counties, represent a total proposed state investment of at least $25 million, leveraging $153 million in private and other funding for total project expenses of more than $178 million. Collectively, these priority projects would support the creation of 197 new jobs, 445 indirect jobs, the retention of 24 existing jobs, and leverage a return on investment of 7 to 1. Detailed information about the WNYREDC’s 2016 endorsed priority projects is available in the progress report at www.regionalcouncils.ny.gov/content/western-new-york. The report also outlines the region’s strong performance record in implementing its strategies and projects since 2011, the first round of Governor Andrew M. Cuomo’s Regional Economic Development Council initiative. The first five rounds resulted in 403 projects moving forward in Western New York, 84 percent of which are completed or on schedule. In total, $356.4 million in State funding has been awarded to Western New York through the REDC process. “The results we are seeing in our economy are outstanding,” said Jeff Belt, Western New York Regional Economic Development Council Co-Chair and SolEpoxy CEO. “REDC strategies that focus investments on people and place-making are accelerating a region-wide turnaround that is attracting national attention. The proof is seen in our communities and it’s reflected in our 2016 progress report. This year we have prioritized projects to train our workforce, foster a culture of entrepreneurship, and realize smartgrowth in our cities and villages. These strategies provide the unifying framework that is enabling public, private and foundation investments to work together for the good of the region.” “There’s no doubt that our region is transforming—it is evident in the hearts and minds of Western New Yorkers, across our physical landscape, and within key indicators of economic prosperity. And, nationally, WNY is being noticed as a region on the move,” said Satish K. Tripathi, Western New York Regional Economic Development Council Co-Chair and University at Buffalo President. “Our progress report demonstrates how and where we are moving the needle and how we will continue to progress on our path to prosperity. With the support of the state and our entire region over the last six years and as we move forward, this collective support has and will be instrumental in ensuring that Western New York a very bright future.” Round VI of the REDC initiative will award more than $750 million in state funding and tax incentives, including up to $175 million in capital grants and up to $70 million in Excelsior Tax Credits for projects and activities identified by the Councils as regional priorities in their communities. Additionally, over $510 million from state agency programs will be awarded through the CFA process. Regional Council priorities in 2016 include:
- Support the Downtown Revitalization Initiative Plan, and begin to identify priority projects in the defined community;
- Implementing strategies through the project pipeline;
- Training the workforce for today and tomorrow; and
- Measuring the performance and progress of the strategic plan and CFA projects.
